Senior Specialist, Payment, and Negotiations

5 days ago

Nigeria First Bank of Nigeria Full time ₦4,000,000 - ₦8,000,000 per year
Description
  • Responsible for provision of operational lead for Negotiation of presentations on Documentary Credit and Guarantees
  • Processing and Authorization of Trade Loans Booking and Liquidations, Payments and Remittances on Documentary Credits and Matured Trade Loans.
  • Provides Operational and Supervisory lead in the process of enforcement of compliance with regulatory dictates on Payment and Negotiation functions, ensuring that the bank complies with the provisions of the dynamically changing Foreign Exchange Extant Provisions, UCP, ISBP and other relevant international rules and standards.
  • Responsible for identification and enforcement of Letters of Credit terms and conditions as well as regulatory provisions in the delivery of Payment and Negotiation functions.
  • Oversees the process of documents examination and management of identified discrepancies across the local and international space.
  • Interfaces with the various regulatory agencies, internal and external stakeholders, local and foreign counter parties on payment and negotiation functions
  • Oversees the process of sourcing of foreign exchange for payment of compliant presentations and Trade Obligations.
  • Supervise and authorize the process of Trade Loans booking and liquidation, Interest and charges administration and collection on Trade Transactions.
  • Enforces and operationalize the process of administration of Revenue Assurance functions for the bank on Negotiated Documentation, Trade Loans, etc.
  • Responsible for delivery of daily and periodic reconciliation of Payment and Negotiation related Nostro, Vostro, GL, Suspense, Payables and Receivable accounts, ensuring open items are timely closed. 
  • Supervision of rendition of regulatory, management and ad-hoc returns/reports as applicable to Payment and Negotiation functions. 
  • Administration and Management of associated operational risks ensuring that Payment and Negotiation processes and the embedded risks are identified with the risk mitigants put in place to avoid risk crystallization.
  • Management of Trade records for ease of access to historical records on demand by the regulatory authorities.
  •  Liaises with the SBUs, Trade Clients, Correspondent Banks and other internal and external stakeholders on Payment and Negotiation functions, ensuring that all enquiries are promptly attended to, and all open items are swiftly closed.  
  • Develop and handle capacity enhancement, skills building and knowledge transfer plans and programs for the team members.
  • Identifies risks that are associated with the payment and negotiation functions and provides the corresponding risk mitigant for assurance of adequate cover against operational risks

Experience

5-7 years of experience in Trade Services Functions.

Education

  1. First Degree in any discipline
  2. Trade Certification (CDCS, CSDG, CITF)

Master's degree and other professional certification (added advantage)professional certification (added advantage)

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